WASHINGTON (dpa-AFX) - Shares of PNC Financial Services Group, Inc. (PNC) continue to see considerable weakness in afternoon trading on Friday. PNC is currently down by 6.4 percent after hitting its lowest intraday level in over a year.
PNC initially came under pressure even though the regional bank reported third quarter results that exceeded analyst estimates on both the top and bottom lines.
The drop by PNC was partly attributed to sluggish loan growth, with total loans rising by just 2 percent in the third quarter after climbing by 4 percent in the second quarter.
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